ECON 325

Public Economics

Units: 1.5

Hours: 3-0-0

Introduction to the role of government in the economy. Topics include: examination of public goods, externalities, and information asymmetries; market failures resulting from these conditions and policies to address those market failures; taxes, expenditures, and collective decision-making under majority voting. Policy applications include welfare, education, health care spending, and tax policies such as income taxes, consumption taxes, and taxes on carbon emissions.